All Episodes
Van Hesser's 3 Things in Credit - A KBRA Podcast — 253 episodes
Stock Market Correction, Rates and Oil, and Consumer Concern
Uncertainty Returns, The Forward Look, and Leveraged Finance Trends
The Long End, Easy Financial Conditions, and Retailer Week
Caterpillar Earnings, Data Center Dimensions, and Bonds as a Hedge
Q2 GDP, Consumer Resilience, and Recalculating Inflation
Oil vs. Distillates, Rising Uncertainty, and U.S. Exceptionalism
AI Debt Issuance, Updating the Fed, and Big Bank Credit Color.
Jobs’ Weakness, Q2 Earnings, and Robust Consumer Spend.
Rates vs. Oil, Critical Thresholds, and REITs vs. BDCs.
Deflation, Credit Loss Cycle, and CCC Signal.
Hyperscaler Debt Issuance, Next-Wave Growth, and Industrial Renaissance
Waller Redirect, Income Slowdown, and 2026 Default Forecasts.
Rates’ Risk, Stock vs. Bond Volatility, and Consumer Color.
Jobs Rebound, Shock Watch, and Historic Uncertainty.
Changing Narratives, Earnings Surge, and Nonlinear Oil Move
What We’re Watching, Defaults Two Ways, and Oil Price Perspective
Earnings Growth, Bank Exposure to Nonbanks, and Constructive Pessimism
Growth Shock vs. Inflation Shock, Big Bank Credit Color, and IMF Sours
Resiliency, Dimon on Credit, Consumer Trends
Shock Risk, Loan Growth Surge, and Earnings Relief
Earnings vs. Oil, Systemic Leverage, and Stagflation
Bond Havens, Oracle Reassures, and Risk Reprice
Productivity Boom or Savings Drain, Labor Pessimism, and Inflation Pressure
Fed in Flux, Single-Bs Widening, and HALOs
Delinquencies Warning, Utilities Unicorns, and K-Shapes
Retail Sales Disconnect, Labor’s Lost Leverage, and Rising Hyperscaler Issuance
Margin Lift, Excitable Risk, and The Path of Interest Rates
What We’re Watching, Visa/Mastercard Spending Update, and KBRA DLD Default Forecasts
Bond Vigilantes, The Cost of Gloom, and Biggest Risks
Housing Headwinds, Big Bank Credit Color, Supply Surge
Economic Tension, Fed Decision-Making, and Trigger Points
Oil Glut, Credit Cycle, and 2026 Themes
Spread Wideners, Private Credit Color, 2026 Risks
Coming Tailwinds, Fed Drama, and Private Credit Data Update
Home Depot’s Warning, Private Credit Growth, AI Bubble and Credit
Holiday Spending, Surging Earnings, and Senior Loan Officer Color
Private Credit Color, Reduced Uncertainty, and Consumer Belt Tightening
Consumer No Confidence, Credit Course Correction, and To Cut or Not to Cut
GM Blowout, U.S. Consumer, Bubbles
Cycle Turn? Big Bank Credit Color, and Oil’s Price Drop
Credit “Froth,” Growth Quality, and Q3 Earnings
Inflation Target, Bond Scarcity, and Capex Supercycle
Maximum Employment, Retail Therapy, and Risk Versus Uncertainty
Credit’s Durability, Risk Concentrations, and Distressed Debt Exchanges
Economic Lines of Defense, Q3 Earnings, and Jobs’ Revisions
Spreads vs. Yields, Financial Conditions, and Walmart/Target Read-Across
Earnings Momentum, 2026 Forecasts, and August Jobs
Inflection Point, Ares’ Perspective, and Maersk’s Beat
Slowdown, Leveraged Loan Surge, and Default Forecasts
Growth Catalysts, Homebuilder Bounce, and Tariff Bump
Big Bank Color, Labor Sensitivity, and European Update Description
Delta Exuberance, Q3 Outlook, and Whistling Past the Slowdown
Middle East Tension, Powell vs. the LEI, and United Airlines
Data Vacuum, Sand in the Gears, and Consumer Angst
Volatility Settles, “Dangerous” Finance, and Slowdown Approaching
Credit Scarcity, Debt and Deficits, and Markets’ Round Trip
Dimon on Credit, Growth Catalysts, and Earnings Outlook
Exuberance, Labor Strength, and Walmart’s Outlook
Falling Oil, Tariff Impact, and Credit Appeal
Complacency, Trade Progress, and European Appeal
Consumer Finance Guidance, Consumer Spending, and The Forward Look
Dow and United Airlines, Big Bank Credit Color, and Consumer Hard Data
Policy Guardrails, Private Credit Shock Absorber, Canada and Mexico
Tariff Shock, What Will the Fed Do, and Economic Defense
Recession Risk, C-Suite Sentiment, and Time for Credit
Strength Into Transition, April 2, and Fed Tea Leaves.
Fed Cuts, Airline Read-Across, Syndicated Loan Quality
Stagflation risk, Growth Scare, and Equities vs. Credit
Cooling Growth, Jobs’ Sentiment Shift, Technical Strength
Homebuilder Blues, Walmart Guidance, and Tight Spreads
Euphoria Downside, M&A Downdraft, and 10-Year Direction
Tariff Time, Credit’s iPhone Moment, and Earnings Check-Up
Blackstone Blowout, GDP Miss, and Default Forecasts
Labor Risks, Tariff Time, and Updated Forecasts.
Inauguration Bluster, Big Bank Credit Color, and Sentiment Shift
10-Year Blues, Uncertainty, and Credit Card Defaults
Peak Trump, Animal Spirits, and Debt Warning
Spread Risks, U.S. As Bubble, and Holiday Spending
Chinese Volatility, Private Credit’s Runway, and Bank Lending.
Animal Spirits, Mid-Market Loan Quality, and Higher for Longer II?
U.S. Consumer, D.R. Horton, and Bush/Gore Redux?
U.S. Exceptionalism, Reality Check, and Illiquidity Premium.
Tight Spreads, Big Bank Credit Color, and Consumer Expectations
Recession Probabilities, Jobs Data, and Q3 Earnings
Apollo’s Vision, CRE’s Stability, and Default and Recoveries Update
Robust Earnings Growth Forecast, CFO Sentiment, Trade Shock
Fed’s Big Move, Credit Exuberance, and Post-Cut Expectations
Bank Warnings, Small Business Struggles, and Post-Inflation Risks
Savings Rate, 2025 Earnings, and Beige Book
Debt Buildup, Travel Blues, Jackson Hole
Behavioral Drag, Growth Fuel, and Walmart’s Significance
Compressed Spreads, Abundant Liquidity, and Texas Downdraft
Rate Cuts, Hot GDP, and Two Economies’ Delinquencies
Darkening Credit Markets, Updated Forecasts, Citigroup’s Consumer Results
Second Half [2024] Themes, Earnings Season, and Goldilocks Challenged
Capex Canary, CRE’s Broader Threat, and Election Tailwind
Bulls’ Run, Politics of Rates, Aviation
Visibility, Financial Conditions, and Tech Impact
Bank Risk, Corporate Versus ABS Spreads, and ECB’s Rate Cut
Private Placements, Fallen Angels, and Housing
Fiscal Deficits, Seeing Around Corners, and Fundamentals Checkup
Inflation, Two Economies, and Vanishing Excess Savings
Credit Card Losses, Bank Risk Appetite, Private Credit’s Middle Market Trends
Good Things Fading, Bankruptcy Trends, and Thresholds That Shift Sentiment
Big Bank Color, Net Worth Surge, and Treasury Volatility
Hot CPI, Earnings Season, and Event Risk
Small Business Signals, Single-B Spreads, and Apparel Company Guidance
Economic Slack, Equity Outlook, and Consumer Lenders
U.S. Exceptionalism, C-Suite Confidence, and Banks, a Year Later
Powell’s Dilemma, FICO Rolls Over, and Direct Lending Update.
Commodities Downdraft, Financial Conditions, and Choiceful Consumers
Bank CRE Risk, Slowdown Earnings, Private Credit Borrowers
Strong Technical, Market Volatility, and Hot Versus Cold Data
Credit Card Delinquencies, The SLOOS, and Barkin Wisdom
New York Community Bank, Nonbanks and IMF’s Forecast
Strong GDP, Narrowness, and Earnings Warnings
Soft Landing, Big Bank Color, and Private Credit Maturity Wall
Problem Loans, Geopolitics, and Default Forecast
Banks, Sentiment Split, and Financial Conditions
Monetary Pivot, Election Risk, and Market Fear
Tight Spreads, Beige Book Blues, and Consumer Leverage
Rates Volatility, Consumer Dry Powder, and Cheaper Energy
AT1s, Sentiment Shift, and Retailers
Narrative Shift, SLOOS Update, Sahm Rule
Middle East, Regional Banks, and Important Small Caps
Earnings, Financial Stability, Default Outlook
Big Bank Color, High Rates, and Relative Value
Q3 Earnings, Fed Change, and Pemberton’s View
A Troublesome Scenario, a Case for Cuts, and Remember the SLOOS
Fed Forecast, Beneath Large Caps, CEO Confidence
The Last Hike, Oil’s Spike, and Bank Risk
Financial Conditions, IG Spreads, and Consumer Sentiment
Global Divergence, Macy’s, and Risk/Reward
Higher for Longer, Apollo and Private Credit, NAIC
Consumer Spending, Airlines, Pricing Power
Biggest Risks, Big Tightening, and Default Forecast
Stocks and Spreads, Creaking Credit Markets, Economic Divergence
Recession Risk, Tightening Consumer Credit, and Cap One’s Insight
Cool CPI, Tight Jobs, and Revenge Spend
Distressed Buildup, Consumer Sentiment, and Corporate Earnings
Midyear View, Valuation Drivers, Deflationary Reversals
Exuberance, Freight Recession, and Credit Contraction
The Fed’s Skip, AT1s, and Default Dynamics
Excess Profits, Uncertainty, and Services’ Weakness
CRE Risk, Retailer Guidance, and Insurance Company Demand
Corporate Earnings, Consumer Spending, and Institutional Demand for Credit
Regional banks, Banks and CRE, and Homebuilders
Higher Cost of Capital, Consumer Spend, and Demand for Credit
Inflection Point, Big Bank Color, Ed Altman’s View
CarMax and Albertson’s, Credit Crunch, and Recession Probabilities
Banking’s Business Model, Bad News Rising, Banking Crisis
Sentiment Shifts, Earnings on Deck, and Chinese Growth
Depositor Safety, Unwanted Uncertainty, AT1s
Half Empty Glass, Consumer Spending, and Silver Linings.
Long and Variable Lags, Event Risk, and Value in High Yield
Private Credit, Consumer Expectations, and Housing
Walmart Guidance, Larry Summers’ Warning, Energy Risk
Corporate Margins, Earnings Growth, and Consumer Wealth
The Missing Recession, Lender Sentiment, and the Return of Stability
Fed-speak, China and Inflation, and Market Tone
Hard Data Arrives, Earnings Recession, and Recession Models
Waiting for Deterioration, Low Unemployment, and Big Banks on Credit
Soft Landing Odds, Falling Margins, and Services Drop
A New Paradigm, China’s Reopening, and Labor’s Mixed Message
Concerns, Bank Valuations, and Treasury Volatility
KBRA’s Survey, Leveraged Loan Watch, and Consumer Borrowing Spike
3 Things in Credit: December 2, 2022
3 Things in Credit: November 18, 2022
3 Things in Credit: November 11, 2022
3 Things in Credit: November 4, 2022
3 Things in Credit: October 28, 2022
3 Things in Credit: October 21, 2022
3 Things in Credit: October 7, 2022
3 Things in Credit: September 30, 2022
3 Things in Credit: September 23, 2022
3 Things in Credit: September 16, 2022
3 Things in Credit: September 9, 2022
3 Things in Credit: September 1, 2022
3 Things in Credit: August 19, 2022
3 Things in Credit: August 12, 2022
3 Things in Credit: August 5, 2022
3 Things in Credit: July 29, 2022
3 Things in Credit: July 22, 2022
3 Things in Credit: July 15, 2022
3 Things in Credit: July 8, 2022
3 Things in Credit: June 29, 2022
3 Things in Credit: June 24, 2022
3 Things in Credit: June 17, 2022
3 Things in Credit: June 10, 2022
3 Things in Credit: June 3, 2022
3 Things in Credit: May 26, 2022
3 Things in Credit: May 20, 2022
3 Things in Credit: May 13, 2022
3 Things in Credit: May 6, 2022
3 Things in Credit: April 29, 2022
3 Things in Credit: April 22, 2022
3 Things in Credit: April 14, 2022
3 Things in Credit: April 8, 2022
3 Things in Credit: April 1, 2022
3 Things in Credit: March 18, 2022
3 Things in Credit: March 11, 2022
3 Things in Credit: March 4, 2022
3 Things in Credit: February 25, 2022
3 Things in Credit: February 18, 2022
3 Things in Credit: February 11, 2022
3 Things in Credit: February 4, 2022
3 Things in Credit: January 28, 2022
3 Things in Credit: January 21, 2022
3 Things in Credit: January 14, 2022
3 Things in Credit: January 7, 2022
3 Things in Credit: December 17, 2021
3 Things in Credit: December 10, 2021
3 Things in Credit: December 3, 2021
3 Things in Credit: November 19, 2021
3 Things in Credit: November 12, 2021
3 Things in Credit: November 5, 2021
3 Things in Credit: October 29, 2021
3 Things in Credit: October 22, 2021
3 Things in Credit: October 15, 2021
3 Things in Credit: October 8, 2021
3 Things in Credit: October 1, 2021
3 Things in Credit: September 24, 2021
3 Things in Credit: September 17, 2021
3 Things in Credit: September 10, 2021
3 Things in Credit: August 27, 2021
3 Things in Credit: August 20, 2021
3 Things in Credit: August 13, 2021
3 Things in Credit: August 6, 2021
3 Things in Credit: July 30, 2021
3 Things in Credit: July 23, 2021
3 Things in Credit: July 16, 2021
3 Things in Credit: July 9, 2021
3 Things in Credit: July 1, 2021
3 Things in Credit: June 25, 2021
3 Things in Credit: June 18, 2021
3 Things in Credit: June 11, 2021
3 Things in Credit: June 4, 2021
3 Things in Credit: May 27, 2021
3 Things in Credit: May 21, 2021
3 Things in Credit: May 14, 2021
3 Things in Credit: May 7, 2021
3 Things in Credit: April 30, 2021
3 Things in Credit: April 23, 2021
3 Things in Credit: April 16, 2021
3 Things in Credit: April 9, 2021
3 Things in Credit: April 1, 2021
3 Things in Credit: March 19, 2021
3 Things in Credit: March 12, 2021
3 Things in Credit: March 5, 2021
3 Things in Credit: February 26, 2021
3 Things in Credit: February 19, 2021
3 Things in Credit: February 5, 2021
3 Things in Credit: January 29, 2021